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If Wave handles my remittances for me, when are the amounts withdrawn from my account?

Wave withdraws the amount needed for your remittance when your payroll run has been processed (usually one day before the payroll has been processed). We hold this money and remit it to the government on the timeline based on your business remitter type.

The remittance withdrawal follows the same funding window as direct deposit. Let's use the same example from the walk through on Paying your employees on time:

Let's say your direct deposit is already fully set up and, and your employees' payday is November 1st. In order for your employee to get paid on time, you need to run your payroll on October 28th before 5:30pm Eastern. Notice that that's 4 days in advance and before the cut-off time.

Here is a breakdown of what happens:

Monday – the request to withdraw money from the employer's account is sent to the employer's bank.

Tuesday – the money is withdrawn from the employer's bank account. This includes the remittance amount.

Wednesday – waiting for confirmation that the employer actually had the money and it's been taken out.